New York Extends Downstate Casino Bid Deadline to June 2025

Latest News

NY-Facility-Location-Board-extends-downstate-casino-bid-deadline-to-June-2025

The New York State Gaming Facility Location Board has extended the deadline for downstate casino bids to June 27, 2025. This decision comes even as a bill proposing an earlier deadline of August 31, 2024, awaits Governor Kathy Hochul’s signature.

New Timeline for Downstate Casino Bids

On June 27, 2024, the Gaming Facility Location Board unanimously approved the new timeline. The revised schedule requires all applications to be submitted by June 27, 2025. Following this, Community Advisory Committees (CACs) will form to begin their statutory evaluations. CACs must vote on their respective projects by September 30, 2025, after which approved applicants will submit additional materials, including proposed tax rates, for further evaluation.

The board plans to make its decisions by December 1, 2025, with the New York State Gaming Commission issuing licenses by December 31, 2025. This extended timeline is designed to ensure that all legal and procedural requirements are met, giving communities ample opportunity to voice their opinions and allowing applicants to finalize necessary zoning and environmental approvals.

Conflict with Pending Legislation

Senator Joe Addabbo’s bill (S9673A), passed through the House and Senate in early June 2024, proposes an August 31, 2024 deadline for bid submissions. However, board members expressed concerns that this deadline is unrealistic. Board chair Vicki Been stated, “The hope would be that our reasoning will be helpful to the governor,” indicating the board’s belief that a rushed deadline would not be practical given the complexity of the bidding process.

Bidders must complete zoning changes and environmental impact studies before their proposals can be reviewed. Currently, sites like Bally’s Bronx proposal and Steve Cohen’s Queens proposal require rezoning, as they are designated as parkland. Both developers are lobbying local and state boards for these changes, but the approvals are not yet in place.

Interested Bidders and Proposals

There are 11 bidders interested in the three available casino licenses for downstate New York. The proposals and their respective developers and operators include:

  • Avenir: Silverstein Properties (Developer), Greenwood Gaming (Casino Operator) – Manhattan
  • Bally’s Links at Ferry Point: Bally’s Corporation (Developer and Casino Operator) – The Bronx
  • Caesars Palace Times Square: Caesars Entertainment, SL Green, Roc Nation (Developers), Caesars Entertainment (Casino Operator) – Manhattan
  • The Coney: Thor Equities, Legends Entertainment, the Chickasaw Nation, Saratoga Casino Holdings (Developers), Saratoga Casino Holdings (Casino Operator) – Brooklyn
  • Freedom Plaza: Soloviev Group (Developer), Mohegan Gaming (Casino Operator) – Manhattan
  • Metropolitan Park: Steven Cohen (Developer), Hard Rock International (Casino Operator) – Queens
  • MGM Empire City: MGM Resorts International (Developer and Casino Operator) – Yonkers
  • Resorts World New York City: Genting Group (Developer and Casino Operator) – Queens
  • Sands New York: Las Vegas Sands (Developer and Casino Operator) – Long Island, Nassau County
  • Saks Fifth Avenue: Hudson’s Bay Company (Developer), TBD (Casino Operator) – Manhattan
  • Wynn New York City: Related Companies, Oxford Properties Group (Developers), Wynn Resorts (Casino Operator) – Manhattan

Community and Regulatory Considerations

In addition to securing community support through CACs, applicants must navigate the State Environmental Quality Review Act (SEQR) process. This extensive review is essential to identify and mitigate any adverse environmental effects of the proposed projects. The City of New York has updated its zoning code to permit licensed commercial casino gambling, but some potential applicants still face additional zoning hurdles.

The board’s decision to extend the bid deadline aims to provide a fair and thorough evaluation process, ensuring that all proposals meet the required standards and that the community’s voice is heard.

Source:

The New York State Gaming Facility Location Board (PDF), June 27, 2024. 

Products You May Like

Articles You May Like

WATCH: Mateos Folds Kings Correctly in WSOP Main Event; Then Gets Aces Cracked
DraftKings Penalized $100,000 for Reporting Inaccurate Betting Data
Kansspelautoriteit Aims to Improve Duty of Care in Dutch Gaming Halls
Philippines: PAOCC proposes gradual phaseout of POGOs amidst persistance of illegal operations
Finding the Right Table Game for You in Las Vegas

Leave a Reply

Your email address will not be published. Required fields are marked *